Located in Richfield, MN, Body Techs Rx Wellness and Rehab Center specializes in holistic healing, proactive and recovery care. They offer a range of services including cryotherapy, red light therapy, body sculpting, massage therapy, chiropractic work, and more.
“Most people come to us because they’re in pain,” said Travis Pioske, the owner of Body Techs.
“Once they start getting in our membership, they start feeling good about themselves and they start getting their energy back. We always tell people that investing in us is like them investing in themselves and investing in their own health.”
Travis launched his business in May of 2022 and hit the ground running. After only one year of operation, he was ready to grow. But he had put all of his profits and personal finances back into the business already and needed working capital to get to the next level.
Affordable financing through the Minnesota Inclusive Growth Fund
In his search for financing, Travis found the Minnesota Inclusive Growth Fund (MIGF).
MIGF was created by a group of Minnesota-based nonprofit community lenders, including CRF. The program offers flexible, below-market, fixed-rate financing to help Minnesota small business owners recover from the challenges of the pandemic and civil unrest in 2020.
Through MIGF, Travis was matched with CRF to help meet his financing needs.
“I was fortunate to find CRF with the five-year, five percent interest rate through the Minnesota Inclusive Growth Fund, which was a great opportunity,” Travis said.
In working with CRF, Travis secured a working capital loan through the MIGF program for new equipment, inventory, staffing, and payroll.
As he reflected on the loan process and what this capital means for the future of his business, Travis felt the same relief he aims to provide to his own customers.
“Just like when I have my clients come in and they’re in pain and they go in the cryotank and I can see the relief on their face – that was the same when I got funded,” Travis explained. “I was like, ‘ok, now I can breathe, now I have time; I can expand.”